Hyundai to take apart business model

Five baby Hyundais will replace big chaebol. It's a family concern

As reported here yesterday, Hyundai is to go through a massive restructuring, following the decision to take a 60 per cent share in LG Semicon. (Story: LG Semicon-Hyundai strike deal) The Korean press is reporting that the chaebol (family concern) will be divided into five different spun off groups by the year 2003. The divisions will be cars, electronics, finance and services, construction and heavy industry. Each Baby Hyundai will be forced to exist in its own right. ®